Tengku Zafrul: Development Finance Institution Loans to Micro SMEs Total RM8.1 Billion | Malaysia

People queue in front of a branch of Bank Simpanan Nasional in Klang on September 6, 2021. – Photo by Yusof Mat Isa

KUALA LUMPUR, September 23 – Development finance institutions (DFIs) have set up various financing programs – especially for micro-small and medium-sized enterprises (micro SMEs) – through funds from Bank Negara Malaysia, in height of 8.1 billion ringgit.

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said DFIs such as Bank Simpanan Nasional (BSN), Bank Rakyat, Agro Bank and SME Bank will continue to play a role in supporting survival. micro-entrepreneurs by facilitating loans through various low-interest loan programs.

“In fact, recently the ministry advised DFIs to come up with more practical solutions such as using less onerous criteria so that companies can recover and resume operations as soon as possible after the reopening of more economic and social sectors. .

“In addition, DFIs should also prioritize investment strategies for micro-SMEs involved in innovations as well as those making the transition to digital operations,” he said in response to an oral question. Supplementary by Datuk Mohd Fasiah Mohd Fakeh (Bersatu-Sabak Bernam) in Dewan Rakyat Today.

Mohd Fasiah had asked about the roles of DFIs and the distribution of the Prihatin Special Grant (GKP) to help micro-entrepreneurs.

Tengku Zafrul said RM1 billion will be channeled to one million GKP 4.0 recipients, including current GKP recipients and new approved applicants, and payments will be directly credited to bank accounts registered in the GKP system.

He pointed out that to date, nearly 196,000 GKP beneficiaries in Selangor have received payments from GKP totaling RM1.2 billion.

Payments under GKP 4.0 will be made in September (RM500) and November (RM500) this year.

He added that in total, the government has funneled RM 6.08 billion to over one million micro-SMEs nationwide under the GKP program since the Covid-19 pandemic hit Malaysian shores. ‘last year. – Bernama

Marianne R. Winn